New product development strategy leads to the launch of a new event, Possible Miami

Background

  • Plural Strategy’s client is a US headquartered non-profit  association who has built a strong membership business, serving marketing professionals, and a portfolio of exclusive conferences.
  • We were asked to create a growth acceleration strategy for their events portfolio.
  • As part of that process, we reviewed the needs of all the  players in the marketing technology ecosystem and how  well they were met through the existing association and  competitor events. We identified an opportunity to   launch a new event for all marketers built around the  association’s Chief Marketing Officer (CMO) members.
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Developing a new event concept with a differentiated positioning

  • Through defining a matrix of ‘attendee experience’, Plural  evaluated the current landscape and positioning of US  marketing events. 
  • Following extensive primary research with key stakeholders, we identified and evidenced the most attractive space to play based on our current CMO customers, industry trends, wider audience needs and the opportunity for differentiation. 
  • To uncover the differentiation opportunities, Plural defined event success through six key pillars – leveraging our knowledge of industry models to identify core characteristics of disruptive events in adjacent industries – and mapped these to marketer segments’ key needs. 
  • The key was to leverage our current customers. Therefore, creating a differentiated and highly customised CMO tier event experience was vital. 
  • Plural iterated these initial event concepts to unify key content themes and innovative formats under one overarching event that would deliver a highly personalised and curated experience  for all participants in the MarTech ecosystem. 
  • The needs of leading vendors to the industry also needed to be understood and met.
  • These concepts were put to the test by the association research team for final refinement and prioritisation. 
  • Plural presented an optimal pricing approach for both delegates and sponsors. Additionally, we put forward a recommended location and launch window.

As a result of this positioning work, the association was able to  obtain full approval to begin raising funds to support the launch.

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A successful event launch

The event, Possible Miami, took place in April 2023. 

  • They met their launch year attendee goal – attracting 2,500 participants from across the full marketing ecosystem. Over 54% of attendees were senior-level decision-makers (VP+).
  • The event continues to feature in online discourse, particularly as Elon Musk and Linda Yaccarino featured on a Possible stage together, one month before the announcement that Yaccarino was hired as CEO of Twitter (since rebranded as X).
  • The second event is taking place in April 2024.
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